As you may already be aware, new regulations were recently passed requiring all sponsors of qualified plans to file their Form 5500 and accompanying schedules electronically beginning January 1, 2010. Hard copies will no longer be accepted, rather will need to be submitted via the Department of Labor’s EFAST2 electronic on-line filing system. We will still be preparing your filing as in previous years.
To comply with these regulations and to update and streamline the ERISA filing process, the DOL has created a new, web-based electronic filing system known as EFAST2. The EFAST2 system provides all of the basic functionality required to fulfill annual reporting requirements from the website www.efast.dol.gov.
For the sake of accuracy, security, and timeliness, you must complete the registration process in a single session. Incomplete registration forms will not be saved in the EFAST2 database. If you end the session prior to completing the registration form, you will need to start the process over from the beginning. Below are the six steps to complete EFAST2 registration:
Read and accept the privacy statement
Provide contact information and select user type(s)
Select challenge question and answer
Verify registration information
Receive a credentials email notification
Retrieve and activate credentials
To register with EFAST2, you will need to log onto the EFAST2 web site, located at http://www.efast.dol.gov. On the navigation panel on the left side of the Welcome screen, you will click on the “Register” link. Complete instructions for obtaining your credentials are attached.
Feedback From Our Happy Customers
The Innovative team is well respected at AFS. My staff and I feel they are an extension of our HR team! Since implementation, they have always remained committed to assisting AFS with all of its healthcare needs; in fact, it doesn’t matter what time of day, they always respond in a timely manner.
Each year they come up with fresh material so our employee’s interest is always peaked. A few years ago, Innovative provided us with documentation to show that moving from a fully insured program to self-insured would be more cost effective for AFS, and it has been! Innovative has truly made our jobs easier so we can focus on other tasks.
As an HR professional, Innovative makes my job easier and benefits administration much less overwhelming than it would otherwise be.
They are truly a partner with me to make sure our team members have the best benefits and service around their benefits that we can offer. Innovative’s team is responsive, professional and resourceful. (They are at the forefront of knowledge in many areas, including ACA reporting and compliance, which can get highly complicated.)
As a client for the last 4 years, we love working with our Innovative Benefit Planning team because of their service model, scope , depth and quality of expertise in handling our benefits and renewals.
Their level of commitment just keeps getting better each year. They have more than met our expectations on renewal negotiations, response time, assistance with ongoing plans, open enrollment material, meetings, support, bill auditing, and wellness programs.
Since our partnership with Innovative Benefit Planning in 2017, it has been a seamless one. Innovative always provide options, suggestions and recommendations when it comes to our benefits renewal.
Innovative is always present even when open enrollment ends, their year round communication reminds me that I can always reach out for help at any time. Their professionalism is the utmost one can expect. My account representative Jenni is wonderful, courteous, knowledgeable and very helpful.
We have been dealing with Innovative Benefit Planning for many, many years. They have given us nothing but exceptional service.
We can pick up the phone or email them and they always resolve our questions and take care of our employees insurance issues in a very timely manner. They negotiate our insurance rates every year and have managed to reduce the increase every year. Every account manager we’ve had throughout the years have been great to work with.
I have been working with Innovative Benefit Planning for over six years. Previous to Innovative, I had used the same broker for about 25 years. I was used to doing everything myself during open enrollment with my previous broker.
When Innovative came on board, I was pleasantly surprised how “on top” of things they were. I never have to call them and bother them about getting rates to me for open enrollment, as they are in touch with our carriers on a regular basis, and they get me my information for open enrollment as soon as they receive it from the carriers.